Up, down. Up, down. We seem to have had a law jobs market in the major markets of the US and the UK for more years than many graduates can dare remember, but now the Wall Street Journal reports that the big law firms are recruiting again. Can this be true, this time?
The Journa in the US the 2013 class was the largest so far with over 46,000 graduates,
the upshot is that while hiring levels are better than ever the competition is more
intense as well.
There are, to cut to the chase, even more unemployed lawyers.
But the chances of landing a decent, Big Law job – if that is your desire – are better
than they have been with the 2013 class working in practices of more than 500
lawyers being over 20 per cent. That’s an improvement over recent years, but not as
good as the figures back in 2009.
The pay is still good – with an average starting salary of $160,000 – but the grinding
work hours are tough and the recruiting process lengthy.
Typically firms will interview students after the first year and hopefully
there will be a job offer after graduation, such as Sarah Damerville from Boston
University who landed a job at Weil Gotshal & Manges.
But prospects look better over the coming years according to the experts, helped
in large part by plunging school enrollments which will stop the glut.
“The pig working its way through the snake” as one law firm manager put it.